COLUMBUS, Ind. – The fact that Class 8 numbers were down in June doesn’t come as much of a surprise.
In a media release from ACT Research, June preliminary North America Class 8 net orders were 14,800 units, down 37% m/m and 12% y/y. Complete industry data for June, including final order numbers, will be published by ACT Research in mid-July.
“Even in good years, Q2 typically delivers below-trend orders, while Q4 orders can trigger optimism at the bottom of the cycle. With the long bottom in freight volumes and rates continuing in the most recent data from DAT amid lingering market overcapacity, for-hire carriers’ financial performance has been dismal,” shared Kenny Vieth, ACT’s President and Senior Analyst. He continued, “Entering the historically worst time of the year for orders at the bottom of tractor buyers’ profitability cycle is producing results in line with expectations. At the same time, the brightest spot in the economy has been consumer services spending, helping to support steady medium-duty truck demand.”
Regarding medium duty orders, Vieth added, “Reflecting underlying service sector strength, NA Classes 5-7 net orders were 19,000 units in June, down 1.6% month-to-mont, but up an in-line 3.3% year-to-year.”
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
